GTCR Completes Acquisition of Fiduciary Trust Company, Doris Meister joins as Executive Chair

Firm executes Leaders Strategy™ partnership with former Wilmington Trust CEO Doris Meister who joins CEO Austin Shapard to accelerate Fiduciary's long-term strategy

CHICAGO, April 22, 2026 /PRNewswire/ -- GTCR, a leading private equity firm, announced today that it has closed its acquisition of Fiduciary Company Incorporated and its operating subsidiaries, together known as Fiduciary Trust Company ("Fiduciary" or "the Company"). Fiduciary is a Boston-based private wealth manager and trust company serving ultra-high-net-worth individuals, families and institutions.

As part of GTCR's Leaders Strategy™ investment approach, Doris Meister, former Chair and CEO of Wilmington Trust, will join Fiduciary as Executive Chair. Ms. Meister will partner closely with CEO Austin Shapard and the broader management team to build upon the Company's long history of exceptional service and drive its long-term strategy and growth initiatives. Planned strategic initiatives include expanding Fiduciary's breadth of services to meet the evolving needs of customers, enhancing its investment platform offerings, further tech-enabling its platform and growing its employee base.

Founded in 1885 as a family office, Fiduciary is a leading provider of wealth management, trustee and custody services to clients with approximately $34 billion in total assets as of December 31, 2025. Fiduciary's comprehensive wealth management services are focused on New England high-net-worth and ultra-high-net worth individuals and families and include white glove service and robust in-house wealth planning, investment management and trust capabilities. The Company also provides custody and trustee services nationwide to third-party financial advisors and family offices, including access to New Hampshire's advantageous trust laws. The Company has built a highly regarded brand in New England and maintains longstanding client relationships due to its differentiated capabilities and high levels of service.

Ms. Meister brings more than 35 years of experience in wealth and asset management. Most recently, she served as Chair and CEO of Wilmington Trust, where she led a significant transformation of the business, including investing in the platform, enhancing the client value proposition, and growing the business to approximately $90 billion in wealth assets during her tenure. She previously held senior leadership roles at BNY Mellon Wealth Management, AllianceBernstein and Merrill Lynch, with deep experience serving ultra-high-net-worth clients and scaling wealth platforms. Ms. Meister also serves on the board of AssetMark, Inc., a leading wealth management technology platform and GTCR portfolio company, RWA Wealth Partners and Composition Wealth. Ms. Meister's strategic leadership experience and deep industry expertise will be invaluable to the team.

"I have admired Fiduciary for over a decade—its client-first culture and depth of expertise in wealth planning and trust services truly set the firm apart," said Ms. Meister. "I've also long respected GTCR's Leaders Strategy™ and its track record of partnering with management teams to build enduring businesses. I'm excited to work closely with Austin, GTCR and the broader team to build on Fiduciary's strong foundation and help shape its next chapter of growth."

"Our partnership with Doris and GTCR strengthens our ability to do even more for clients over time—whether through broader services, deeper planning capabilities or an enhanced client experience," said Austin Shapard, CEO of Fiduciary. "Doris is an accomplished executive in wealth management with a proven track record of leading and scaling platforms. We are excited to welcome Doris to the board as Executive Chair as we enter this next phase of Fiduciary's growth."

"Fiduciary has spent 140 years building deep client trust and institutional credibility, and we see a compelling opportunity to build on that strong foundation," said Michael Hollander, Managing Director at GTCR. "The wealth management market continues to grow and there is a meaningful opportunity to expand the platform's capabilities and further enhance its technology infrastructure to capitalize on strong industry tailwinds. With Doris, Austin and the broader Fiduciary team, we believe that Fiduciary is uniquely positioned with a best in class offering and executive team."

About GTCR
Founded in 1980, GTCR is a leading private equity firm that invests behind The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $35 billion in approximately 300 companies, and the firm currently manages approximately $50 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com. Follow us on LinkedIn.

About Fiduciary Trust Company
Fiduciary Company Incorporated ("Fiduciary") is the parent company of Fiduciary Trust Company (FTC), a Boston-based private wealth manager and Fiduciary Trust of New England (FTNE), a New Hampshire-chartered trust company. Through these subsidiaries, Fiduciary provides private wealth management to families, individuals and nonprofits seeking objective advice to help grow and protect their investments. The firm also provides a range of services to professional financial advisors and single-family offices. Fiduciary's capabilities include comprehensive wealth planning, customized investment management, trustee and estate services, a donor-advised fund program, and family office, tax and custody services.

Founded in 1885 as a family office, Fiduciary takes a personal approach based on expertise, strong performance and a genuine commitment to act in its clients' best interests. The firm's client focus has enabled it to achieve a 98% average annual client retention rate.

GTCR Media Contact
Josh Clarkson / Ryan Smith / Peter Gavaris
[email protected]

Fiduciary Company Incorporated Media Contact
Paige Sullivan
[email protected]
(914) 374-4229

SOURCE GTCR